The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1887-12-16
a The Government Finances.
SECRETARY OF THE TREASURY FAIRcHILp
REVIEWS THE SITUATION.

The annual report OF the Secretary |
of the Treasury shows that the ordi-
nary revenues Of the government from
all sources for the fiscal year ending
June 80, 1857, were $7l,4O3,277.66. |
The receipts from customs amounted
to S2l7, 1886. S93. IS, and from internal
revenue to $l1S,s23391,22, the bal
apce arising from miscellaneous
sources, such as the sale OF public
lands, profits in coinage, Consular fees,
revenues Of the District of Columbia
and other sources of revenue. The
expenditures for the same period, in
Guiding the sinking fund, reached
1915, 1885 42S IL, leaving surplus of
S55, SCI, ,849 81, which, with $24,455,-
72O 46 drawn from the cash already in
the Treasury, was applied to the re-
demp,ion Of the three per cents. As
compared with the fiscal year 1886
there was an increase ir the revenues
Of $34, 1868, $1,000, and an increase in
the expenditures Of $25,449,041.47.
The estimated revunues for the fiscal
year ending June 80 1883, are placed
at $3.50, 100000 and the expenditures
at $316,sl7,7S54S. This includes the
sinking fund demand and leaves an es.
timated surplus of $66, lS2,21452.
The estimates fer 1889, if no change
10 present revenue laws are made, are
the same as for 1888, with an estimat-
ed increase IN expenditures of about
S10,000,000.
The requirements of the sinking fund
for the fiscal year ending June 80,
1887, including balance of $l,597,-
40723 from the previous fiscal year,
were fully met by the redemption of
bonds, interest notes and fractional
currency to the extent of $47,9O3, ,24S.-
Is The requirements for the current
fi-cal year, which are estimated at $46..
S17,785.4S, have been almost wholly
provided for to November 1, 1887 by
the redemption of fractional currency
and three per cent bonds and by the
purchase of four and four and one half
per cent. bonds, amounting in all TO
SAG, ,564, ,S21. 80, or within $252. .963 6S
of the estimated requirement for the
year.
SURPLUS REVENUE.
By surplus revenue is meant the
money which annually remains in the
Treasury of the United States after the
officers of this department have collect
ed the taxes laid on the people by the
laws of Congress and have paid all the
expenses and obligations of the gov
erpment except principal OF the in-
terest bearing debt.
Each year for twenty two years
there has been such surplus-the
least, $2,344,882 80. in 1874 the great
est $145, 5,54S,81O in 1882. The
total of this surplus for the twenty two
wears ended June 80, 1887, was 81,
49l.745,953 1t was $lO3, All, ,O97
60 during the last fiscal year, which
was only about million of dollars les,
than the greatest annual surplus (tha
of 1S84) since the reduction of taxation
in 1888, although the ordinary expen
ditures, exclusive of interest on tn,
public debt, were $3O,612 2,736.S7 great
er in 1887 than in 1884. During tn,
present fiscal year ending June 80
, 1888, the surplus taxation will amour
to $113, 100000.
This surplus can be reduced by on
+ of these expedienfs:
l. The purchase of the interes
bearing debt of the government.
, 2. Large expenditures by govern
ment for other purposes than the pur
.. chase of bonds, so that they shall eac
. year equal the taxation Of that year.
II 8. Reduction of the revenue fror
taxation to the amount actually requii
+ ed to meet necessary expenses.
All of these expedients have in com
I mon the one merit of preventing tn
arrangement to business which mus
. follow boarding or locking up in tn
r Treasury the circulating media of tn
people.
:, Of these expedients the reduction G
customs taxation is recommended
Here is where the reduction should
!. made, and while reducing, advantag
should be taken of the opportunity t
reform the abuses and inequalities {
the tariff laws. Add to the free list 6
many articles as possible. Reduc
duties on every dutiable article to th
lowest point possible but in ascertain
ing these possibilities the present sitl
alton of labor an1 business must alwa,
. be kept in mind.
3 One argument used in favor of I'll
- continuance of the present highly pr,
- y tective tariff would, if admitted to |
true, establish the claim that Il
majority of the labor and people
this country have made compact wit
the minority that the majority W
pay the minority more for ce rita
If articles, to be made by the latter, thu
N the price at which the people of 9th
v countries are willing to sell the sam,
\ that the evidence of this is found
y, our tariff laws which have kept duti
D. at highly protective rate since ear
re- in the war, and in the continued exi,
10 ence of those laws for 80 long tim
Ii and that under these conditions maj
N loboring men have become so emplo
| ed in certain industries that it mig
VI | DS ullllCult IOI tDen AZ once 10
] other work. II thus obligation, WIN
q it is claimed that labor as whole b
- assumed toward labor engaged in pi
5" ticular industries in this country, d.
r, exist, it should be sacredly kept no
10 ever unwise and ill-considered we m
sli believe its assumption to have bee
IT. and whether the existence of this OF
IL cation is admitted or not, the fact
1871 this present employment of a porti
81 IF the laborers of the country shot
let always be in mind when maxi
b changes in the tariff, to the end IL
Of; their interests may not suffer theIei
ny Under the encouragement offered
nj the tariff laws, large sums of mon
lie have been invested in manufacture
ist enterprises and the capital thus inve
nd d must also be remembered, for it
h' important to the country that it sho'
his receive reasonable reward, and
.ry power to pay fair wages to the lal
IN which it employs depends upon ics o
tor prosperity. But it must also be bo
ro- in mind that it was no part of
* alleged compact, nor should it